Cambodia, Rwanda launch cross-border payment link

The National Bank of Cambodia and the National Bank of Rwanda have jointly announced a cross-border payment cooperation initiative between the two countries, according to a joint press release issued on Saturday, News.Az reports, citing Xinhua.

The press release stated that “this cross-border payment cooperation demonstrates the shared commitment of both central banks to modernizing their payment systems and promoting greater financial connectivity.”

It added that the initiative is also expected to further strengthen economic, trade, and tourism relations between Cambodia and Rwanda, while supporting broader regional and international financial integration.

According to the statement, by leveraging technological advancements and digital innovation, the partnership aims to enhance the use of seamless and efficient electronic payment services for citizens of both nations.

The initiative is being implemented under the Memorandum of Understanding (MoU) on Cooperation in Areas of Financial Sector Development between the two central banks, which was signed in 2023.

The MoU established a framework for strengthening cooperation through the exchange of knowledge and experience, with the goal of advancing financial sector development in both countries, the press release added.

News.Az 

By Nijat Babayev